Retail leads Wall Street higher

Retail leads Wall Street higher

Dow Jones Industrial Average rises 55 points

The Dow gained 55.21 points, or 0.20%, to close at 28,121.68. The S&P 500 climbed 0.22% to end the day at 3,140.52. The Nasdaq Composite advanced 0.18% to 8,647.93. Retail stocks led the major averages higher as Wall Street celebrated record highs yet again.

More record highs thanks to retailers

Better-than-expected earnings from retailers such as Best Buy and Dick’s Sporting Goods gave the broader market a slight boost to run further into record territory. The news on the U.S.-China trade front was also mostly incremental, with President Donald Trump saying both sides are in the throes of reaching a deal. To be sure, investors remain uncertain about whether a phase-one trade deal will get signed before a Dec. 15 deadline. If the talks fall apart or suffer a setback, investors could take profits with stocks trading at all-time highs.

Best Buy and Dick’s Sporting Goods surge

What happens next?

The Federal Reserve will release its latest summary of economic projections, which is better known as the Beige Book. Deere is also set to report quarterly results Wednesday. Read more here.

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